Petrobras hits 500,000 b/d output from presalt

Petroleo Brasileiro SA (Petrobras) has reached 500,000 b/d in production from the Brazilian presalt, a region that has already seen aggregate output of 343 million boe (OGJ Online, June 20, 2014).

The company, which didn’t reach the same level of total production until 31 years after it launched, made its first discovery in the region 8 years ago.

Currently the presalt has 25 production wells—compared with the company’s 4,000 wells when it reached the 500,000 b/d mark in total production in 1984—and accounts for 22% of the company’s total production. Petrobras estimates that the region will account for more than 50% of total production by 2018.

Petrobras expects further increases in production supplied by the Cessao Onerosa production area, where surplus volumes range 9.8-15.2 billion bbl, according to estimates from Brazil’s National Oil, Gas, and Biofuels Agency (ANP).

The operation was approved on June 24 by Brazil’s National Energy Policy Council (CNPE), and production in the area is set to commence in 2021, the company says. Petrobras has already drilled 17 wells in Buzios, around Iara, Florim, and Northeast Tupi. Twelve have been tested at a 100% success rate.

The company emphasizes that the areas’ low exploratory risk and the company’s operational presence will generate $18 billion in savings on discoveries during 2015-21.

Petrobras plans to produce an average of 4 million b/d during 2020-30.

Related Articles

GET OFF ENVIRONMENTAL SIDELINES

01/01/1990 The petroleum industry's political challenge for the 1990s is to get back into the environmental debate. It won't be easy. But industry h...

SHELL HOMES IN ON TROLL FIELD DEVELOPMENT

01/08/1990 Norske Shell will recommend to partners that Troll gas field in the Norwegian North Sea be developed using multiphase flow pipelines and onshore pr...

WASHINGTON TO DETERMINE OCS LEASE SALE SCHEDULE

01/08/1990 Patrick Crow Washington Editor The U.S. government will make critical decisions on the future of Outer Continental Shelf leasing this year. And it ...

SANTOS TESTS QUEENSLAND OIL DISCOVERY

01/08/1990 A Santos Ltd. partnership plans to begin producing a Southwest Queensland oil discovery in February. The 1 Bowen, drilled on the Naccowlah block of...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected